His Excellency, President Bola Tinubu Signs Three Executive Orders

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 Written by Jesse Ogwu

His Excellency, President Bola Ahmed Tinubu, on the 6th day of July, 2023, has signed three different executive orders in his commitment to fostering a business-friendly environment and alleviating the burdens faced by businesses and households in affected areas. 

Photo Credit: Premium Times Nigeria

The President’s Special adviser on special duties, communication and strategy, Dele Alake, at the presidential villa on Thursday 6th July, said that this development was in line with President Tinubu policy of creating conducive environment for business to thrive. 


Among the signed executive orders includes the one that suspends the Finance Act of 2023 signed by  Former President of Nigeria, Muhammadu Buhari on the 28th May 2023,  and defers the date of its commencement from 28th May to 1st September. The Finance Act of Nigeria is a fiscal legislation enacted by the NASS containing multiple provisions as to tax related issues, Customs and Excise Tariffs and much more. The Act’s date variation is a major economic reform which has varied the former date to the presently signed one, which will take effect starting 1st September 2023.


The President also signed the Custom Excise (Variation) Amendment Order, 2023, defeating the commencement date of the tax changes from March 27th to August 1st 2023 following the National Tax Policy guidelines. 


Another signed executive order was the order suspending 5% Excise tax on telecommunications services and the Excise Duty Escalation on Locally Manufactured Goods. This order will, without an iota of doubt, protect efficient local industries. Little wonder why Dele Alake said at the Presidential Villa that the Tinubu administration will continue to give requisite stimulus by way of friendly policies to allow businesses to flourish in the country.


He, Dele Alake, further said that the President assured Nigerians that there will not be further tax raise without robust and wide consultations undertaken within the context of a coherent fiscal policy framework.

Photo Credit: Nairametrics

Positively speaking, these developments are welcoming and will result in achieving a higher GDP growth, a reduction in poverty and unemployment as local efficient industries will be functioning at optimal level.


So then, there arises a subjective question: will all these foster a healthy business environment? 








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